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COFS

ChoiceOne Financial Services, Inc.

COFS

ChoiceOne Financial Services, Inc. • NASDAQ
$30.44 ▼ -0.52% (-0.16)
Market Cap $457.30 M
52w High $38.15
52w Low $24.89
Dividend Yield 1.12%
P/E 16.54
Volume 56.23K
Outstanding Shares 15.02M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $61.842M ▲ $26.215M ▲ $14.681M ▲ 23.74% ▲ $0.98 ▲ $23.83M ▲
Q2-2025 $60.428M ▲ $25.506M ▼ $13.534M ▲ 22.397% ▲ $0.9 ▲ $22.082M ▲
Q1-2025 $44.881M ▲ $35.665M ▲ $-13.906M ▼ -30.984% ▼ $-1.7 ▼ $-13.961M ▼
Q4-2024 $36.032M ▼ $15.344M ▼ $7.159M ▼ 19.868% ▼ $0.83 ▼ $11.962M ▼
Q3-2024 $36.557M $15.417M $7.348M 20.1% $0.86 $12.361M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $107.632M ▼ $4.297B ▼ $3.847B ▼ $449.615M ▲
Q2-2025 $166.431M ▲ $4.31B ▲ $3.878B ▲ $431.761M ▲
Q1-2025 $155.085M ▼ $4.305B ▲ $3.878B ▲ $427.068M ▲
Q4-2024 $575.518M ▼ $2.723B ▼ $2.463B ▼ $260.415M ▲
Q3-2024 $643.14M $2.726B $2.478B $247.746M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $14.681M ▲ $15.294M ▲ $-42.118M ▼ $-30.477M ▼ $-57.302M ▼ $13.694M ▲
Q2-2025 $13.534M ▲ $8.958M ▲ $10.054M ▼ $-2.153M ▲ $16.859M ▼ $6.883M ▲
Q1-2025 $-13.906M ▼ $-6.472M ▼ $256.977M ▲ $-207.835M ▼ $42.67M ▲ $-7.307M ▼
Q4-2024 $7.159M ▼ $24.008M ▲ $-41.623M ▲ $-31.572M ▼ $-49.187M ▼ $23.349M ▲
Q3-2024 $7.348M $-6.412M $-60.297M $111.645M $44.936M $-6.665M

Five-Year Company Overview

Income Statement

Income Statement ChoiceOne’s income statement shows a steady, mostly upward trend over the last several years. Revenue has grown at a measured but consistent pace, and core banking profitability has generally held up well. Earnings have moved in the right direction over time, with a small soft patch in the middle of the period and then a stronger year most recently. Overall, the bank looks like it has been able to grow while keeping its costs reasonably in line, which supports stable, gradually improving bottom-line results. Still, as a regional bank, its earnings remain sensitive to interest rates and credit conditions, even though that doesn’t show directly in these high-level figures.

Balance Sheet

Balance Sheet The balance sheet has expanded meaningfully, with total assets climbing each year, suggesting steady loan growth and a larger franchise. Cash levels, while modest as a share of total assets (typical for a bank), have ticked up recently, adding a bit more liquidity cushion. Debt has risen over the period, indicating more reliance on borrowed funds to support growth, which can enhance returns but also increases sensitivity to funding costs and market stress. Equity has grown overall, though not as fast as total assets, implying higher leverage over time. That capital profile is broadly normal for a community bank but underlines the importance of asset quality and risk management.

Cash Flow

Cash Flow Cash flow from operations has been consistently positive and has improved over time, which confirms that reported profits are largely backed by real cash generation. Free cash flow closely tracks operating cash flow because the bank requires limited traditional capital spending; its main “investment” is growing the loan book on the balance sheet, not buying physical assets. This pattern suggests a business that throws off dependable cash in normal conditions and has some flexibility to support dividends, technology investments, and growth initiatives. The main cash-flow risk is less about equipment spending and more about how loan performance and funding costs evolve through cycles.

Competitive Edge

Competitive Edge ChoiceOne competes as a regional community bank in Michigan, leaning on long-standing local relationships and specialized knowledge of its markets, including agricultural lending. Its recent merger with Fentura significantly expanded its branch network and asset base, giving it more scale to spread costs and serve larger customers. The bank’s mix of personalized service, tailored lending, and increasingly strong digital tools helps differentiate it from both bigger national banks and smaller local competitors. That said, it still operates in a very competitive arena, facing pressure from large banks, credit unions, and digital-first players, so maintaining service quality and pricing discipline will remain critical.

Innovation and R&D

Innovation and R&D While banks don’t report classic R&D, ChoiceOne is clearly leaning into technology. Its in-house commercial lending platform, Metriciti, not only improves its own efficiency and customer experience but is being sold to other community banks, creating a potential high-margin software-like revenue stream. Partnerships with fintech tools like Plinqit help attract and engage younger, digital-savvy savers, and the Ameriprise tie-up deepens its wealth management offering without building everything internally. The bank’s focus on APIs and modern infrastructure points to a willingness to keep innovating. The opportunity is better growth and efficiency; the risk is execution complexity, integration challenges, and the ongoing cost of staying technologically current.

Summary

Taken together, ChoiceOne looks like a steadily growing community bank that has used the last several years to build scale, grow earnings, and modernize its platform. Financially, it shows consistent revenue growth, resilient profitability, and solid cash generation, supported by an expanding balance sheet and gradually rising equity. The trade-off is higher leverage and a greater need for disciplined risk management as the bank grows. Strategically, it combines deep local roots with a relatively advanced technology posture for a community bank, including proprietary software and selective partnerships. Key uncertainties going forward include credit quality through economic cycles, the cost and availability of funding in different rate environments, and the smooth integration of its large merger. This mix of steady financial performance, expanding footprint, and tech-focused initiatives frames the current risk–reward profile for observers to evaluate.

NEWS

October 24, 2025 · 7:30 AM UTC

ChoiceOne Reports Third Quarter 2025 Results

Read more